What is Bitcoin?
A network of computers, called nodes, is used to run and store the blockchain for Bitcoin. You can think of a blockchain as a collection of blocks. Each block contains a group of transactions.
No one can manipulate the system because any machine running the blockchain has access to the same list of blocks and transactions and can transparently see these new blocks being filled with fresh Bitcoin transactions. Anyone can see these transactions take place in real time, whether or not they operate a Bitcoin “node.”
Bitcoin promises to have lower transaction fees than conventional online payment methods and is run by a decentralised organisation as opposed to government-issued money.
How to buy Bitcoin in India?
In such a case, BuyUcoin has also taken it a step further and launched an EZ/OTC market for Bitcoin on its platform for its consumers, adhering to all compliances and laws issued regarding Bitcoin and other cryptocurrencies by the Indian Government. Now that your favourite cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, and many others are listed on BuyUcoin, you may easily select and trade them.
Below is the simple 5 step to complete guide on how to buy Bitcoin instantly
Step 1: Open Your Free BuyUcoin Wallet
You must first provide your email address or password in order to join with buyucoin. Alternatively, you may sign up using Google to create a free Bitcoin wallet even faster.
You must first provide your email address or password in order to join with buyucoin. Alternatively, you may sign up using Google to create a free Bitcoin wallet even faster.
Step 2 : Verify Your Email Address
After completing the BuyUcoin registration process, you must visit the profile section and confirm your email by clicking the OTP or email verification link that was delivered to your inbox.
After completing the BuyUcoin registration process, you must visit the profile section and confirm your email by clicking the OTP or email verification link that was delivered to your inbox.
Step 3 — Complete Your KYC
For Indian jurisdiction, KYC and AML are required. Only Indian data centres are used to save, encrypt, and store your data. To finish your KYC, you will be transferred to a new URL. Please have your most recent selfie handy. You will require your pan card’s photos. You must have the mobile number associated with your Aadhar on you.
For Indian jurisdiction, KYC and AML are required. Only Indian data centres are used to save, encrypt, and store your data. To finish your KYC, you will be transferred to a new URL. Please have your most recent selfie handy. You will require your pan card’s photos. You must have the mobile number associated with your Aadhar on you.
Step 4 — Google 2 Step Verification
You must download the Authenticator app to your smartphone or tablet in order to use 2FA. When enabled, you will be required to enter a six-digit one-time password in addition to your email address and password each time you access your BuyUcoin account. Only using this when logging in with an email and password.
You must download the Authenticator app to your smartphone or tablet in order to use 2FA. When enabled, you will be required to enter a six-digit one-time password in addition to your email address and password each time you access your BuyUcoin account. Only using this when logging in with an email and password.
Step 5 — Buy Bitcoin Through Spot or OTC Desk
After completing the KYC process, you must add your primary bank account and UPI to your BuyUcoin wallet before adding fiat money to purchase Bitcoin, such as INR to BTC. On the BuyUcoin cryptocurrency exchange, there are 2 ways to purchase Bitcoin: Spot/Classic Market and EZ/OTC. BTC may be purchased quickly and easily with EZ/OTC.
After completing the KYC process, you must add your primary bank account and UPI to your BuyUcoin wallet before adding fiat money to purchase Bitcoin, such as INR to BTC. On the BuyUcoin cryptocurrency exchange, there are 2 ways to purchase Bitcoin: Spot/Classic Market and EZ/OTC. BTC may be purchased quickly and easily with EZ/OTC.
Why You Should Buy Bitcoin?
No Third Parties — Transactions do not involve any third parties, making it impossible for anybody to tamper with bitcoins thanks to the database that saves copies of each and every transaction. No government agency is engaged since Bitcoin users have complete independence.
No Tracking — Nobody else can track the bitcoins in the wallet, and individual transactions cannot be traced back to anybody other than the wallet’s owner.
Transactions Are Not Reversible — The sender of the money might request a reversal of the payments, just like with other widely used payment systems. The only payment method without a reversal option is this currency. A payment is finalised once it has been made.
Easily Access Markets — When traditional financial institutions are out of reach for a person, they can still transact via the Bitcoin Transaction mechanism. As a result, bitcoin is expanding rapidly.
Lower Fees and Charges — Compared to standard transactions, Bitcoin transactions have a very low transaction cost. Bitcoins are transferred directly between users without any additional fees or involvement from outside parties.
Immediate Settlements — The debt settlement processes typically take time. It takes several days to complete a transaction through a bank. Verifying payments, getting clearance, and other formalities take time. However, regardless of where the parties are located, Bitcoin transactions are finished in a matter of minutes.
Conclusion
The head of global macro at Fidelity Investments, Jurrien Timmer, predicts that bitcoin will likely trade between $50,000 and $60,000 in the following year 2023, By 2025, the price of Bitcoin may still reach $100,000, according to Bloomberg commodity analyst Mike McGlone, once the bear market fades and cryptocurrency values rebound.
You can anywhere earn free Bitcoin and 40+ Cryptocurrencies with BuyUcoin Scratch Card upto Rs 1000 per day on Signup, Referral, Affiliate Commissions, Trading, Deposit, Staking, and more.
